Cloud9 Leads Uncover’s R$80 Million Series A

Gunderson Dettmer represented Cloud9, a Brazilian growth equity firm, as the lead investor in the R$80 million Series A financing of Uncover, a startup that measures the results of advertising investments. ABSeed and Endeavor Catalyst also participated in the round.

The new funding will be used to finance Uncover’s entry into the United States and to expand investments in research and development.

“Media measurement has always been done by consultancies that used models with outdated data,” said Daniel Guinezi, co-founder of Uncover, in a Brazil Journal article profiling the transaction. “This model works well for annual budgets, but not for day-to-day operations, where you need to measure impacts in real time and make decisions on the spot,” said the founder. “What we saw was that it was very theoretical. To make it practical, we had to make it real-time, create data pipelines, calibrate it constantly to communicate insights, and power all of this with artificial intelligence.”

The Gunderson deal team was led by Christel Moreno and included Stefania Toschi.